Valor Real Estate Partners has acquired a 9,000m² logistics property in Sartrouville, Paris. It extends Valor’s footprint in West Paris, a critically undersupplied market where it has also recently agreed a partial pre-let on a warehouse under refurbishment in Trappes and completed an ESG-led refurbishment programme in Bezons.
Sartrouville is strategically positioned to service the affluent West Paris and La Défense submarkets, six kilometres from the A86, Paris’ second ring road. Acquired off-market from a private seller, the property is fully let off a low passing rent, offering a medium-term opportunity to capture the reversionary potential.
At its distribution warehouse in Trappes, acquired in 2021 and currently under refurbishment, Valor has completed a 5,500m² letting to a leading automobile manufacturer. Serving as one of the tenant’s key Paris spare parts distribution hubs, the property is located 30 kilometres west of Paris city centre and less than five minutes’ drive time from the N12 motorway.
In Bezons, Valor has completed an ESG-focused refurbishment programme, which included replacing the cladding to improve insulation, replacing the heating system and adding LED lighting, to deliver 2,300m² of modern, functional warehousing suitable for e-commerce and 3PL occupiers. Bezons is located 10 kilometres from Paris’ first ring road and is directly connected to the A86.
Ben Brunschwig, Senior Vice President, Valor, commented: “We are seeing an increasingly diverse range of occupiers seeking modern, sustainable space in Paris in order to service consumer needs, which is underpinning continued rental and capital value growth. The West Paris submarket in particular, where we have amassed a c. 80,000 sqm portfolio primarily through off-market acquisitions and now have significant value-add expertise, is characterised by aging stock with competition from higher value end uses limiting new development.”
